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Ain’t A Bubble & Buy A Rental

The residential real estate market, now at its midpoint in 2015, is on track for its best year since the peak of the housing bubble in 2006, notes realtor.com® chief economist Jonathan Smoke. But as Smoke is quick to point out, this time it’s not a housing bubble. That’s because job growth is fueling the…




Lake and Company

Tight Inventory… Still

The number of condo and house sales in the central Puget Sound region jumped 15 percent last month over the previous year, even as the number of residences for sale dropped precipitously. The result: an even tighter housing market with home prices climbing at more than 9 percent, according to data the Northwest Multiple Listing…




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MLS Market Update: June 2015

Northwest MLS brokers say home buyers are sprinting, but sellers are stalling Home buyers are in “full sprint” mode while sellers are stalling, according to brokers from Northwest Multiple Listing Service. As a result, MLS members are juggling severe inventory shortages and multiple offers in many Seattle neighborhoods and beyond. MLS figures for May show…




Seattle-Wash

Seattle Home Prices , Rents & Interest Rates Rise Again…

America’s Most Overpriced Cities In 2015 – Forbes Sitting at #16. Seattle, Wash. MSA: Seattle-Bellevue-Everett, WA Median Income: $86,027 Q4 2014 median sales price: $360,000 Housing affordable at median family income: 51.2% Cost Above National Average: Groceries: 5.8%; Utilities: -4.1%; Transportation: 9.8%; Health: 18.7%; Misc.: 8.9% Seattle home prices increase faster than almost every other…




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Low Inventory & Dawgs Work To Fix Housing

Home sales will pick up to a solid 5.3 million this year and are expected to hit 5.5 million next year, but until inventory constraints improve, the country’s large pent-up demand for home sales can’t be met, NAR Chief Economist Lawrence Yun said at the 2015 REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. Overall,…




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MLS Market Update: May 2015

Pent-up demand triggering record pace of home sales around Western Washington Northwest Multiple Listing Service members notched a record high level of pending sales during April, surpassing the year-ago volume by nearly 1,800 transactions. Both closed sales and prices also surged last month as the spring market kicked into high gear. Buyer confidence and buyer…




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Rising Rents, Habitat Goes Multi & Helping Your Kids

With housing prices increasing so rapidly in Seattle, property owners are cashing in by selling their apartment buildings to developers who expect to charge higher rents. So while developers can be to blame, the fate of these buildings is set the moment they’re sold at market value. Why This Rickety Building Lost The Fight Against…




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Silicon Seattle

Many of these offices are planning to hire thousands of engineers… Is Seattle Silicon Valley’s Next Favorite Stop? – Tech Crunch Why is Seattle the fastest-growing city in the U.S.? – PSBJ Seattle Children’s plans 13-story downtown research facility – PSBJ Surging Puget Sound-area home prices give sellers all the power – PSBJ Here’s how…




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Millennials In, Pete Carroll Out & The Amazon Boom

It seems that Seattle is about to edge out San Francisco in one metric — but it’s not necessarily one the Emerald City wants to be known for. The greater Seattle metro area has the lowest supply of homes for sale ever recorded. Supply of Seattle-area homes hits lowest point ever recorded – Puget Sound…




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Home Prices Jump, Spike & Sizzle

The median price of Seattle homes sold in March rose 18.9 percent over the year to $535,000 – The biggest jump in at least five years. Home prices in Seattle jump 18.9 percent from year ago – Seattle Times Puget Sound sees historic spike in home prices – KOMO 4 Home prices sizzle in a…




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Growth Growth All Over the Place From Over Seas and Across the Lake

Signs, signs, everywhere a sign. Everywhere a land-use sign. Those white “Notice of Proposed Land Use Action” billboards have been sprouting all over town to the point they have become Seattle’s official flower. Growth gone wild? Website map pins it down – Seattle Times Seattle vs. the Eastside: What’s driving Expedia’s big regional relocation –…




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MLS Market Update: April 2015

Frenzied Market Frustrating Buyers KIRKLAND, Washington (April 6, 2015) – Buyer anxiety is rising as the pace of home sales is faster than brokers are able to replenish inventory, according to members of Northwest Multiple Listing Service. Figures just released for March show 11,408 pending sales during the month while only 10,505 sellers listed their…




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Habitat Energy Audits, High House Prices & Renter Frustration

Congratulations, Seattle. You got a raise. The bad news is that during roughly the same time, your median home prices shot up three times more than your “big” salary boost. Waiting for Seattle housing prices to drop? Good luck with that – PSBJ Mortgage Rates Drop Even Lower This Week – Freddie Mac Its (Finally!)…




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Rates Going Up, Rates Going Down, 3% Down & Make Friends in Sammamish

Freddie Mac will begin offering mortgages with down payments of only 3 percent — the first time they’ve been this low on the GSE’s loans in nearly five years — starting March 23. The move is expected to make more credit available to entry-level borrowers. Freddie’s 3% Down Payments Start Next Week – Freddie Mac New…




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Freddie’s Outlook, Maps & Tips

Freddie Mac released today its U.S. Economic and Housing Market Outlook for March, highlighting some of the positive tailwinds at the start of the spring home buying season. Outlook Highlights Expect 2015 to be the best year for home sales and new home construction since 2007 when total home sales were about 5.8 million for the…




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Home Sales Up, Visas For Sale & The New Gold Rush Is On

The median price of King County homes sold in February rose 6 percent over the year to $429,900 amid a sharp drop in active listings. February marked the fourth consecutive month of record-low inventory of houses and condominiums for sale in King County. It’s an indication that the seller’s market — now going strong for…




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MLS Market Update: March 2015

Early Spring Brings Bumper Crop of Homebuyers Who Face Inventory Drought KIRKLAND, Washington (March 5, 2015) – Favorable weather and restored confidence are propelling home buying activity around Western Washington to the highest level in nearly a decade, according to Northwest Multiple Listing Service sources.”The pent-up demand being unleashed has rocketed pending sales back to…




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Economy Growth, Tax Tips & Why People Move

The economy is poised for a pickup in growth in 2015 amid a strengthening employment sector, rising income growth, and declining commodity prices, according to Fannie Mae’s Economic & Strategic Research Group. Strong Job Growth Foreshadows Solid Full-Year Economic Growth – Fannie Mae Why first-time homebuyers will make a comeback in 2015 – Fortune Wage…




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High Rents, Historic Homes For Sale & Engineer Bubble?

After dragging on for 18 months, the sale of Fort Lawton’s historic officer houses in Seattle’s Discovery Park has closed, and the new owner plans to refurbish the residences and sell them.  ~  Photo Source: Puget Sound Business Journal Soon you’ll be able to buy one of the historic homes in Discovery Park  – PSBJ…




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MLS Market Update: February 2015

Spring market “not waiting for tulips” but limited inventory frustrates homebuyers KIRKLAND, Washington (Feb. 5, 2015) – Home sales this super bowl season outpaced a year ago as sidelined buyers emerged to compete for limited inventory, according to brokers who commented on January activity. New figures from Northwest Multiple Listing Service show year-over-year increases in…




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First-Time Buyers & Foreign Investors

Using data from NAR’s 2006-2014 Profile of Home Buyers and Sellers, we can examine how the demographics of first-time homebuyers have changed over the last 9 years. What do these numbers show us about the diversity of buyers, and what insight can they provide for the future? How are first-time homebuyers becoming more diverse? –…